Fed's Hammack Calls for Gradual Rate Hikes as Inflation Rises
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Fed's Hammack: Restrictive Rates Needed to Cool Inflation
Cleveland Fed President Hammack said interest rates must stay restrictive to bring inflation to target, and more frequent moves can prevent policy lag. Follows weak wage growth and subdued jobless claims; traders watch tomorrow's employment data to gauge whether the Fed's inflation fight is shifting.
https://www.bloomberg.com/news/articles/2026-11-05/fed-s-hammack-says-restrictive-rates-needed-to-cool-inflationFed's Hammack: Inflationary pressures spreading across economy
Fed official Hammack signals broad-based inflation concerns amid recent productivity gains and moderating wage growth. USD weakened 19.2 pips (10.7σ) overnight as markets reassess Fed reaction function ahead of Friday's employment and earnings data. Traders now focus on whether inflation persistence shifts rate-cut expectations.
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